Starrex Updates On Restatements And Refilings; Currently In Talks With OSC Staff

(RTTNews) - Starrex International Ltd said that it is currently in discussions with staff of the OSC regarding any comments which such staff may have regarding the refilings made to date.

Starrex intends to issue further bi-weekly status reports pending confirmation or other response from staff of the OSC regarding the refilings made to date or other conclusion to this process.

Starrex International Ltd. filed on April 8, 2016, restated interim financial statements and a revised management's discussion and analysis for the third-quarter ended September 30, 2015 which can be found on SEDAR under the Company's profile. This followed the filing on Friday, March 18, 2016 of restated audited financial statements and a revised MD&A for the Company for the year ended December 31, 2014 and the filings on Thursday, March 24, 2016 and Friday, April 1, 2016 of restated interim financial statements and revised MD&As for the first and second quarters ended March 31, 2015 and June 30, 2015, respectively.

As previously announced , the Ontario Securities Commission or the "OSC" issued a management cease trade order ("MCTO") prohibiting the Company's Chief Executive Officer and Chief Financial Officer from trading, directly or indirectly, in the securities of Starrex until two full business days following the receipt by the OSC of all filings that the Company is required to make under Ontario securities law or other order of the Director of the OSC. The MCTO did not affect the ability of persons who are not insiders of Starrex to trade its securities.